[ET Net News Agency, 6 July 2018] Citi Research hosted a conference call yesterday with
Kingboard Chemical (KBC)(00148) management.
Key takeaways are: (1) KBL (01888)(69.3% subsidiary) has recently revised up ASP by
Rmb3-5/sheet or 3%; (2) Chemical profit has more than doubled year-to-date; (3) KBC will
likely pay a special dividend this year resulting from decent one-off gain; (4) KBC has
lately secured Vivo as new customer for PCB.
Citi said the stock has severely corrected by 38% over the past 3-4 months, which looks
overdone given 10% cash yield this year. It maintained its "buy" call on KBC, with a
target price of HK$50. (KL)